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Dole Food Co. and Total Produce Plc will merge to create what could be the world's largest fresh produce company, with estimated revenue of approximately US$9.7 billion.
The resulting company will be named Dole Plc, with its headquarters to be in Total Produce's Dublin, Ireland, home.
Total Produce's chairman Carl McCann, and its CEO Rory Byrne will retain their titles in the new Dole.
Meanwhile, Dole Food’s current CEO, Johan Lindén, will be the COO of the new company.
Total Produce, Europe’s leading fresh produce company, bought 45 percent of Dole in 2018 for $300 million.
The other 55 percent belonged to Castle & Cooke, an entity controlled by Dole Chairman David Murdoch, who first bought Dole in 1985.
A condition of the merger is for Dole Plc to successfully holds an initial public offering and get listed on a major US stock exchange.
Upon completion of Dole PLC's US listing, Total Produce will cease to be listed on the London Stock Exchange and Euronext Dublin.
The merger will create a company approximately twice larger than its nearest competitor.
